China Tells Top Financial Institutions to Bolster the Property Market

The Chinese government told China’s most important financial institutions to balance loan offerings and make credit plans for the last two months of this year and next year to bolster the real estate market and halt a deepening skid of the economically important sector.

In a meeting Friday, the People’s Bank of China, the National Administration of Financial Regulation and the China Securities Regulatory Commission ordered financial institutions to meet the reasonable funding needs of property developers no matter their ownership structure.